Democracy and Development: A Theoretical Framework
AbstractA simple framework is set up to discuss the relationship between democracy, material welfare, and development. Democracy is regarded both as a good in its own right and as an input in the production of material welfare. The optimum level of democracy is then related to the level of development. At the optimum point, the marginal cost of democracy in terms of foregone output is positive and growth is a decreasing function of the level of democracy. Deviations from the optimum path are described as either repressive or populist. Democratization is not unambiguously an optimal response to exogenous shocks. Copyright 1994 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 80 (1994)
Issue (Month): 3-4 (September)
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Web page: http://www.springerlink.com/link.asp?id=100332
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- Banerji, Arup & Ghanem, Hafez, 1995. "Political regimes, trade, and labor policies in developing countries," Policy Research Working Paper Series 1521, The World Bank.
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